Funko, Inc. (NASDAQ:FNKO) Short Interest Down 21.0% in March

by · The Cerbat Gem

Funko, Inc. (NASDAQ:FNKO – Get Free Report) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 3,230,000 shares, a decline of 21.0% from the March 15th total of 4,090,000 shares. Based on an average daily volume of 1,020,000 shares, the days-to-cover ratio is presently 3.2 days. Currently, 9.1% of the company’s stock are sold short.

Insiders Place Their Bets

In related news, insider Tracy D. Daw sold 18,608 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $7.14, for a total value of $132,861.12. Following the completion of the sale, the insider now directly owns 26,332 shares of the company’s stock, valued at $188,010.48. The trade was a 41.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew David Oddie sold 3,867 shares of Funko stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $8.87, for a total value of $34,300.29. Following the completion of the transaction, the insider now owns 23,200 shares of the company’s stock, valued at approximately $205,784. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,959 shares of company stock worth $227,640 in the last three months. 4.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FNKO. Assenagon Asset Management S.A. increased its stake in Funko by 952.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,235,437 shares of the company’s stock valued at $8,475,000 after buying an additional 1,118,090 shares during the period. SG Americas Securities LLC increased its stake in shares of Funko by 5,429.1% during the first quarter. SG Americas Securities LLC now owns 1,011,493 shares of the company’s stock valued at $6,939,000 after acquiring an additional 993,199 shares during the period. Mackenzie Financial Corp bought a new stake in Funko during the fourth quarter worth approximately $599,000. Wolverine Trading LLC acquired a new position in shares of Funko during the 4th quarter valued at $489,000. Finally, Vident Advisory LLC raised its position in Funko by 48.8% in the fourth quarter. Vident Advisory LLC now owns 39,833 shares of the company’s stock worth $533,000 after acquiring an additional 13,057 shares in the last quarter. 99.15% of the stock is owned by institutional investors and hedge funds.

Funko Stock Performance

FNKO traded up $0.35 during trading hours on Friday, hitting $4.37. The company’s stock had a trading volume of 1,497,953 shares, compared to its average volume of 736,481. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. Funko has a fifty-two week low of $3.90 and a fifty-two week high of $14.65. The company has a 50-day simple moving average of $8.41 and a 200 day simple moving average of $11.00. The firm has a market capitalization of $238.32 million, a PE ratio of -9.10 and a beta of 0.75.

Analyst Ratings Changes

Several research firms have recently commented on FNKO. Stifel Nicolaus upped their target price on Funko from $11.00 to $12.00 and gave the company a “hold” rating in a report on Friday, January 3rd. DA Davidson raised shares of Funko to a “strong-buy” rating in a report on Monday, April 14th.

Read Our Latest Analysis on Funko

About Funko

(Get Free Report)

Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, Europe, and internationally. The company provides media and entertainment content, including movies, television (TV) shows, video games, music, and sports; figures, handbags, backpacks, wallets, apparel, accessories, plush products, homewares, and digital non-fungible tokens; and art prints and vinyl records, posters, soundtracks, toys, books, games, and other collectibles.

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